India & Israel sign MoU to boost tech cooperation and help start-ups grow
The MoU was signed by CEO of Start-Up Nation Central from Jerusalem Professor Eugene Kandel and CEO of iCreate Anupam Jalote
Giving a boost to their relationship and carving new ways to further strengthen the on-going business partnerships, India and Israel signed a Memorandum of Understanding (MoU) to enable start-ups and companies of both nations to work together in the technology sector and give new and innovative technologies to the world for the greater good.
The MoU was signed between Israel’s Start-Up Nation Central and India’s International Centre for Entrepreneurship and Technology (iCreate) on Tuesday in Gujarat to help start-ups collaborate on innovative projects and use each other’s technology for their benefit.
Calling it an important milestone in the growing innovation collaboration between Israel and India, the Israeli Embassy in India wrote on twitter, “Yesterday a MoU was signed between Israel’s @StartUpNationHQ & India’s @icreateNextGen to accelerate innovation & tech cooperation between #startups & corporates from both countries. This is an imp milestone in the growing innovation collaboration between #Israel & #India.”
The MoU was signed by CEO of Start-Up Nation Central from Jerusalem Professor Eugene Kandel and CEO of iCreate Anupam Jalote in presence of Israeli Ambassador to India Dr Ron Malka, and Israel’s Consul General in Mumbai, Yaakov Finkelstein while Professor Vijay Raghavan, Principal Scientific Advisor to Govt. of India also attended the ceremony through video conferencing.
Indian Ambassador to Israel Sanjeev Kumar Singla and Gujarat Chief Minister Vijay Rupani also attended the ceremony through video conferencing.
Indian Embassy in Israel later tweeted about the same and said, “Spurring more innovation links between one of the world’s largest startup ecosystems and the Startup Nation. Amb Sanjeev Kumar Singla spoke at the signing of the MoU between @iCreateNextGen and @StartUpNationalHQ.”
Cheering the friendship between India and Israel, Deputy Director General for Asia and the Pacific of Israeli Ministry of Foreign Affairs, Jerusalem, Gilad Cohen, on Twitter, said, “Taking friendship between #Israel & #India another step further! MOU signed on technology and innovation collaboration.”
According to the MoU, the programme will begin by defining a set of challenges that will then be shortlisted to the most relevant solutions and technology providers. This will be followed by a matchmaking mechanism that will be developed by leveraging both countries' networks to support the process of adaptation and piloting these solutions in India.
This is not the first time that Israel and India have signed an agreement to boost partnerships. In fact, the data by the Ministry of External Affairs suggests that India is Israel's third largest trade partner in Asia and seventh largest globally. In recent years, the bilateral trade has diversified into several sectors such as pharmaceuticals, agriculture, IT and telecom, and homeland security, the data suggests.
As per the ministry’s data, in recent years, Israel has taken a strategic decision to strengthen economic relations with India. Indian software companies, especially TCS, Infosys, Tech Mahindra and Wipro, are expanding their presence in the Israeli market, it said.